Ann: Capital Raising To Support NEGI Reserves Certification, page-35

i admit to being somewhat negative about RC although there is a army sized history to support my caution (if you recall?). My call on the CR was described as illogical on this thread but was correct. Now i'm saying that the naysayers on the CR were logically right but only if you take a highly optimistic view of the chances for NEGI to be funded. As was pointed out by many members when i called the CR the company does not need the money. So why have a CR now? If NEGI is in the bag this is not good timing for a CR, it only makes sense if it isn't in the bag and RC is hedging his bets. He's also hedging his legacy because if NEGI flops at least the company will be cashed up. The market response to the CR is a test of confidence in RC and his NEGI. It's early days and I'm hoping for a bounce before the trend gets ugly but market confidence has certainly been shaken.